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It's volume on the exchanges. People trading back and forth on the exchanges shows up on the order book and influences the price. As you point out, USD is not
by nightski 5y ago
It's volume on the exchanges. People trading back and forth on the exchanges shows up on the order book and influences the price. As you point out, USD is not the only currency BTC trades to.
But let's say they do $2B USD per day. That still seems to be plenty, given that supply is meeting demand.